Articles

The life of a finance team member. It conjures images of mountains of invoices, endless data entry, and a constant battle against deadlines. But what if there was a way to transform this experience? Enter Accounts Payable automation, a revolution that not only boosts efficiency but also nurtures your team, making them happier, more secure, and way more engaged.

In my own 20 year career as a procurement practitioner, before I took refuge in consulting, writing and commentating, I ”enjoyed” a range of different reporting lines. Early in my career, I reported to a more senior procurement director. In Mars Confectionery, that reporting line went right to the top; procurement and supply chain was vital to the business and we had the “seat at the top table” that is often discussed. In another case, my global procurement director boss reported into Finance, then later into a regional “shared services” leader. In my government role, my boss looked after finance and a whole range of other “back office” activities for the Department. At NatWest, I reported firstly to the Group CFO, then to the Group COO.

So, I’ve looked at this from both sides now, as they say, and can comment reasonably objectively in terms of whether finance is a good home for procurement. And more broadly, what makes the relationship between procurement and finance often so “interesting”?

Strategic agility is a prerequisite in today’s shape-shifting tech-driven world - no debate from business leaders across sectors on that point. But many organisations face a big obstacle as they try to pivot strategy. They can’t quickly evolve their operations and workforce to meet new near-term goals because planning and analysis processes are stuck in the past. 

…without a solution for it.

For something that makes life easier and more efficient, the world of eInvoicing can sometimes seem complex and daunting. And for a company trying to do the right thing, it can be hard to keep up. As the conversation around einvoicing moves from "if" to "when," organisations can find themselves caught in a quandary over what’s best for them, leading to business-damaging procrastination over decisions, or worse – not making one at all.
But with eInvoicing mandates spreading across Europe and globally, it’s a decision that business can’t afford to delay. While a mandate is unlikely to be enforced in the UK any time soon, it will be by many of our trading partners.